Latest News

  • BlackRock’s Turnill: “Global Corporate Earnings: Wind beneath my Wings” February 21, 2017 - Richard explains why we see earnings improving across the globe, and highlights the markets with the most potential for further earnings growth. Companies are reporting encouraging results around the world. We expect earnings to improve further, especially in Europe and Japan, as the benefits of reflation—rising wages, growth and inflation—are spreading beyond the U.S. The chart below illustrates the earnings Continue Reading
  • Forstrong on FX Hedging – Ask Tyler! February 21, 2017 - The US dollar index is at a critical crossroad, recently surging to a 14-year high as investors bet that Trump’s eye-watering fiscal expansion will prove a replay of early 1980s Reaganomics. A cozy consensus is calling for an even higher US dollar. Yet since the start of 2017 the dollar index has lost its upward momentum. Is an inflection point Continue Reading
  • iShares RAFI ETFs migrating to NEO Exchange today/tomorrow February 21, 2017 - A reminder that BlackRock Canada anticipates that the Units (earlier announced: CIE; CIE.A; CJP; CJP.A; CLU; CLU.A; CLU.B; CLU.C; CWO; CWO.A; CRQ; CRQ.A) will be delisted from the TSX at the close of trading on February 21, 2017 and will be listed on NEO at the open of trading on February 22, 2017. BlackRock Canada has been advised by the TSX Continue Reading
  • Housing Bubble! (TWTW – Feb 13-17, 2017) February 20, 2017 - Housing Bubble! The status of real estate in the GTA, according to BMO Economist Doug Porter. State-side, FED Chair Janet Yellen pronounced all upcoming FED meeting “Live” as far as potential for rate hikes. Meantime … FED observers might be interested in this new book: “FED UP” by former Dallas FED Danielle DiMartino Booth. Recent Developments: UK – Tony Blair Continue Reading
  • Horizons’ watershed announcement – A leadership move to follow, if you must ask! February 17, 2017 - The year of transparency? 2017 should go down in Canada as the year of transparency for investors, who, courtesy of CRM2, will get to find out how much all the bells and whistles attached to their investing activities cost (if in fact the industry discloses that information to them in a fulsome fashion, as opposed to piece meal, which – Continue Reading
  • Research Affiliates – Forecasting Factors and Smart Beta Returns (Hint: History is worse than useless) February 17, 2017 - Key Points Using past performance to forecast future performance is likely to disappoint. We find that a factor’s most recent five-year performance is negativelycorrelated with its subsequent five-year performance.  By significantly extending the period of past performance used to forecast future performance, we can improve predictive ability, but the forecasts are still negatively correlated with subsequent performance: the forecast is Continue Reading
  • BlackRock’s Koesterich – Why Value is still a Value February 17, 2017 - The rally in value stocks may have stalled, but Russ discusses why the trend still has further to go. For much of the post-crisis period investors consistently craved growth stocks. They did so for the same reason they favored stocks with a healthy dividend: Both income and growth were scarce commodities for much of the past eight years. However, with Continue Reading
  • Inglis – Beware Buying High Selling low … and hitting repeat over and over… February 17, 2017 - The average investor underperforms virtually all other traditional asset classes, even when inflation increases are included. J.P. Morgan, comparing 20-year annualized returns by asset class, found the average investor rings in at 2.1% compared to the S&P 500 Index at 8.2%.  This underperformance is largely attributed to behavioral finance, when emotions influence investment decisions. Fortunately, a disciplined approach to investing Continue Reading
  • Strong RRSP related (?) inflows, Continued Melt-up in markets = record AUM February 17, 2017 - Strong Net inflows combined with further market gains look to have taken ETF Industry Assets to CAD 119.5 Billion, or an aggregate increase of CAD 3.8 Billion as at Mid-February 2017. With Desjardins announcing their imminent arrival on the scene, and AGF launching their own ETFs recently, the ranks of providers currently stands at 20. Net Inflows are estimated to Continue Reading
  • Horizons’ Thackray – February Newsletter: “Big League Tax Announcement in the offing …” February 15, 2017 - It is difficult to say how much or how long of an impact lower personal and corporate tax rates will have on the stock market. In theory, lower personal tax rates should encourage more spending and lower corporate tax rates should cause companies to expand their business operations.